Monday, September 9, 2019

Macy's bets on 'Growth' stores

Retail Dive
Less than a month after reporting a bruising second quarter, Macy's said that it expects to fully complete the planned expansion of its Growth50 store remodels to an additional 100 locations this fall. CEO Jeff Gennette, speaking to analysts last month per a Motley Fool transcript, had promised the completion ahead of the holidays, noting that, all told, those 150 stores cough up half of the company's brick-and-mortar revenue.

The effort is part of the company's store strategy announced last year, a triad of concepts — flagships including its Herald Square icon, smaller neighborhood stores and the Growth "magnet" stores. . . . more